Monetary reform in times of Charles II (1679-1686): aspects concerning the issued dispositions

Cecilia Font de Villanueva

IFCS - Working Papers in Economic History.WH from Universidad Carlos III de Madrid. Instituto Figuerola

Abstract: During the reign of Carlos II drastic monetary reform was carried out, which once and for all ended the tremendous monetary instability that took place in Castile throughout the whole Seventeenth century. Between 1680 and 1686, six monetary rules were adopted. The path chosen to attain the stability was not easy due to the state of the coinage. The reform tried to provide the Kingdom with a currency properly valued for which it was later decreed the devaluation and then the subsequent removal of the circulating copper coins. Simultaneously, along with the gathered metal, new purely copper made coins were ordered with adjusted value. Once the stability of the lesser value coinage was obtained, the reach of the reform was extended to the gold and silver pieces to equate them to the new monetary values.

Date: 2006-09
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:cte:whrepe:wp06-07

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